RICS valuation professional standards, incorporating the International Valuation Standards 2012 [electronic resource]
- London RICS 2012
- RICS Guidance Note RICS Valuation Standards RICS UK Guidance Note RICS UK Valuation Standards RICS Red Book .
Introduction: Purpose of these standards -- International Valuation Standards -- Publication -- Arrangement of these Standards -- Amendments and exposure drafts -- Effective date Glossary Valuation standards: VS1 Compliance and ethical requirements -- VS2 Agreement of terms of engagement -- VS3 Basis of value -- VS4 Applications -- VS5 Investigations -- VS6 Valuation Reports Guidance notes: GN1 Valuation certainty -- GN2 Valuation of individual trade related properties -- GN3 Valuation of portfolios and groups of properties -- GN4 Personal property -- GN5 Plant and equipment -- GN6 Depreciated replacement cost method of valuation for financial reporting UK valuation standards: UKVS1 Valuations for financial statements -- UKVS2 Valuations for financial statements: specific applications -- UKVS3 Valuation of residential property -- UKVS4 Regulated purpose valuations UK guidance notes: UKGN1 Land and buildings apportionments for lease classification under IFRS -- UKGN2 EU directives and regulations relevant to valuation -- UKGN3 Valuations for capital gains tax, inheritance tax and stamp duty land tax -- UKGN4 Inspections and material considerations -- UKGN5 Local authority disposal of land for less than best consideration -- UKGN6 Analysis of commercial lease transactions -- UKGN 7 Valuations for charities Other RICS publications Index The International Valuation Standards 2011
The purpose of the RICS standards is to provide users of valuation services with confidence that a valuation provided by an RICS qualified valuer has been undertaken in compliance with the highest professional standards. It also assures users that the valuation is independent, objective and consistent with internationally recognised standards set by the International Valuation Standards Council. These standards set out procedural rules and guidance for valuers within the RICS Rules of Conduct. They also set a framework for best practice in the execution and delivery of valuations for different purposes but do not instruct valuers on how to value in individual cases. There is a mandatory obligation placed on the individual valuer or firm registered for regulation by RICS to follow these standards and an effective sanction if there is a material breach. The RICS standards in this edition come into effect on 30 March 2012 and apply where the valuation date is on or after that day.